File retention for two audits: what to keep, and for how long

A LIHTC property answers to its state agency's file rules and to HUD's inspection record expectations at the same time — and the safe answer is rarely 'keep everything forever' or 'purge on schedule.' What actually protects you is a retention list built per document type: inspection reports and correction proof, work orders, certificates, and vendor logs, each with a keep-until date someone owns. When the two rulebooks differ, keep to the longer period and write down that you did, so a future manager inherits a rule instead of a guess. This is general information, not advice for your deal — worth a quick check with your own compliance person. How does your property set retention periods? — Admin